Mortgages

Sabal Financial Group is expanding into third-party servicing, special servicing and construction loan administration nationwide.

For the second time in recent weeks, an originator has come to the Mortgage Grapevine seeking a stated income loan.

Wells Fargo & Co. marketed a risky securities-lending program as safe and ended up causing millions of dollars in losses for institutional investors, a lawyer said as the trial of a lawsuit against the bank began.

News that Wells Fargo and Bank of America failed to comply with the mortgage loan modification timeline processing requirements of the mortgage servicing standards mandated by the national mortgage settlement are bittersweet for New York Attorney General Eric Schneiderman.

Affiliated Mortgage Co., a Monroe, La.-based subsidiary of Texas’ Benchmark Bank, has started a wholesale/mini-correspondent division that is getting started in the Lone Star State with a plan to expand from there.

Felony charges were filed against Robert Williams, an investor who pleaded guilty for his role in conspiracies to rig bids and commit mail fraud at foreclosure auctions.

A tax provision that spares underwater borrowers from being penalized when they agree to a short sale is due to expire at the end of this year.

When it comes to whether to outsource valuations or keep them in-house, opinions can be fierce, but the best advice is to not close the door to either until one has carefully examined all the pros and cons in line with which best matches a particular company’s size or situation.

Existing home sales jumped 13% in May after an 8% increase in April, and it signals that the housing recovery is gaining momentum, according to the Re/Max National Housing Report.

Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, is asking for an investigation into claims that Bank of America purposefully delayed borrowers from entering the Home Affordable Modification Program.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) increased to 4.17%, the highest rate since March 2012.

Major servicers still find it difficult to provide troubled borrowers with timely notice that more documents are needed to process a loan modification application.

ServiceLink has made available a multipurpose tool designed to ensure the mortgage loan data lenders and servicers report and record electronically is accurately transferred and in compliance with regulators.

Move-up buyers are responsible for a growing share of total home sales while first-time homebuyers continue to be hampered by tight credit, according to Wells Fargo Securities economists.

A LendingTree survey reveals that now is an ideal time for prospective homebuyers to purchase a property before interest rates and prices go up.

Mortgage stocks go along for the ride as 13 of 17 Mortgage Industry Equity Composite listings close higher.

This is our master list of items to do on each new loan.

For the first time in six weeks the Zillow Mortgage Rate Ticker finds the average rate for the 30-year fixed rate mortgage to be lower than the week before, a drop of five basis points to 3.88%.

The Mortgage Grapevine is discussing a scenario where the borrower is reluctant to have an appraiser come in because there are two rooms which were added to the property but are not on the tax rolls.

Values in the $900 billion non-agency market are slumping after soaring through early May as the Federal Reserve’s stimulus efforts drove investors to seek potentially higher returns and housing rebounded with the fastest gains in prices since 2006.